We investigate share price responses to announcements of 93 business alliances using minority equity purchases to bond the agreements. On average, selling firms realize significant increases in share value while buying firms garner neutral share price responses. Analysis of financial performance...

Perhaps there is no area in which the practice of financial management and its academic treatment are more divergent than in the area of corporate strategy or strategic planning. The practice of financial management or financial engineering has for many years been involved in assessing various...